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Secured party

The party named as holder of a security interest on a NOSI or other Personal Property Security Act registration. In Ontario HVAC contexts, typically a finance company.

When you pull a parcel register on your home, the secured party listed on a NOSI is the entity that holds the security interest. It may not be the company that sold you the equipment — assignment is common.

Discharging a NOSI requires action by the secured party, either voluntarily (via a discharge statement) or under court order.

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